Public Employees Retirement System of Ohio Has $20.43 Million Holdings in RB Global, Inc. $RBA

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in RB Global, Inc. by 1.7%, holding 192,569 shares worth approximately $20.43 million at the end of the last reporting period.
• Analysts have increased their target prices for RB Global, with Raymond James boosting it from $125 to $135 and Royal Bank of Canada from $125 to $132, while the stock currently holds an average rating of "Moderate Buy."
• RB Global has announced an increase in its quarterly dividend from $0.29 to $0.31, resulting in an annualized dividend of $1.24 and a dividend yield of 1.1%.

Public Employees Retirement System of Ohio lessened its stake in RB Global, Inc. (NYSE:RBA - Free Report) TSE: RBA by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 192,569 shares of the business services provider's stock after selling 3,394 shares during the quarter. Public Employees Retirement System of Ohio owned 0.10% of RB Global worth $20,428,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SouthState Corp acquired a new position in shares of RB Global in the first quarter valued at approximately $26,000. SVB Wealth LLC acquired a new position in shares of RB Global in the first quarter valued at approximately $28,000. MV Capital Management Inc. boosted its holdings in shares of RB Global by 5,560.0% in the first quarter. MV Capital Management Inc. now owns 283 shares of the business services provider's stock valued at $28,000 after buying an additional 278 shares during the period. IFP Advisors Inc boosted its holdings in shares of RB Global by 348.8% in the first quarter. IFP Advisors Inc now owns 359 shares of the business services provider's stock valued at $36,000 after buying an additional 279 shares during the period. Finally, Rise Advisors LLC acquired a new position in RB Global during the first quarter worth $38,000. Institutional investors and hedge funds own 95.37% of the company's stock.

Insider Activity

In related news, CEO James Francis Kessler sold 45,658 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $110.00, for a total transaction of $5,022,380.00. Following the transaction, the chief executive officer directly owned 107,569 shares of the company's stock, valued at approximately $11,832,590. This trade represents a 29.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Thomas Steven Lewis sold 2,151 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $118.15, for a total transaction of $254,140.65. The disclosure for this sale can be found here. Insiders have sold 55,209 shares of company stock valued at $6,090,521 over the last ninety days. 4.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

RBA has been the subject of several recent research reports. Raymond James Financial increased their target price on shares of RB Global from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. CIBC increased their target price on shares of RB Global from $118.00 to $121.00 and gave the stock an "outperformer" rating in a report on Friday, July 18th. Royal Bank Of Canada increased their target price on shares of RB Global from $125.00 to $132.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Wall Street Zen cut shares of RB Global from a "buy" rating to a "hold" rating in a report on Friday, September 5th. Finally, National Bankshares increased their target price on shares of RB Global from $112.00 to $113.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $124.33.

RB Global Price Performance

Shares of RBA opened at $109.02 on Friday. The firm has a market capitalization of $20.23 billion, a PE ratio of 53.97, a PEG ratio of 2.57 and a beta of 0.65. The company's 50-day moving average is $113.64 and its 200-day moving average is $106.24. RB Global, Inc. has a fifty-two week low of $78.08 and a fifty-two week high of $119.58. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.28 and a quick ratio of 1.22.

RB Global (NYSE:RBA - Get Free Report) TSE: RBA last issued its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.12. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.14 billion. RB Global had a net margin of 9.46% and a return on equity of 9.42%. The company's revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 earnings per share. Equities analysts forecast that RB Global, Inc. will post 2.5 EPS for the current year.

RB Global Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 28th were given a $0.31 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This is a boost from RB Global's previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. RB Global's payout ratio is currently 61.39%.

RB Global Profile

RB Global, Inc, an omnichannel marketplace, provides insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Its marketplace brands include Ritchie Bros., an auctioneer of commercial assets and vehicles offering online bidding; IAA, a digital marketplace connecting vehicle buyers and sellers; Rouse Services, which provides asset management, data-driven intelligence, and performance benchmarking system; SmartEquip, a technology platform that supports customers' management of the equipment lifecycle; and Veritread, an online marketplace for heavy haul transport solution.

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